Borouge, the joint venture between Adnoc and Austrian chemicals producer Borealis, has opened Borouge Global Gateway at Khalifa Port in Abu Dhabi as the company looks to boost exports of its petrochemical products.
Borouge Global Gateway consists of a new warehouse, the size of more than 40 football pitches. The facility will enable Borouge to store 180,000 tonnes of polyolefins every day, with 2.5 million tonnes per year throughput, the company said in a statement on Wednesday.
The new unit will be owned and managed by Adnoc Logistics and Services (Adnoc L&S).
“The inauguration of the Borouge Global Gateway is a key milestone in our growth, as we enhance our global supply chains and further capitalise on the growing demand for our innovative solutions,” Hazeem Al Suwaidi, chief executive of Borouge, said.
“These world-class facilities will further optimise our operational efficiencies and cost competitiveness.”
Established in 1998, Borouge is a petrochemical company that employs more than 3,000 people and serves customers in more than 50 countries across Asia, the Middle East and Africa. It provides polyolefin solutions for the agricultural, infrastructure, energy, advanced packaging, mobility and healthcare industries.
Adnoc owns 54 per cent of the company, while Borealis controls 36 per cent.
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Adipec day three - in pictures
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The Abu Dhabi International Petroleum Exhibition and Conference (Adipec) is expected to draw 2,200 exhibitors this year. All photos: Victor Besa / The National -
The National's stand at Adipec. -
Adipec highlights oil and gas investment needs amid the current energy crisis. -
The conference features high-profile speakers, including energy ministers from the UAE, Saudi Arabia, India and Bahrain. -
Executives discuss how to transform business operations through the power of business intelligence during a panel discussion at Adipec. -
Employees of energy services business Wood pose for a group picture at Adipec. -
Ruth Ssentamu, Uganda's Minister of Energy and Mineral Development, responds to moderator Paul Wallace during a ministerial panel discussion on creating a 'just, equitable and sustainable future'. -
Global oil and gas spending is expected to shrink this year, despite crude hovering around $95 a barrel. -
P&O Maritime Logistics chief executive Martin Helweg speaks during a panel discussion titled 'Globalisation under threat: managing supply chains in an age of disruption'. -
More than 40 ministers and 38 company heads, along with 12,000 delegates from around the world, deliver more than 350 sessions, organisers have said. -
A model belonging to Austrian energy company OMV on display at Wood's stand at Adipec.
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Borouge listed on the Abu Dhabi Securities Exchange (ADX) in June after raising $2 billion in an initial public offering in Abu Dhabi's biggest listing. It recently said it remains confident about reporting a profit for the 2022 financial year.
The company is expanding its production capacity in response to higher demand for its products globally, it said.
In the first quarter of 2022, Borouge started its fifth polypropylene unit in Al Ruwais Industrial City, raising its production capacity by more than 25 per cent.
“We have made significant investments in developing the Borouge Global Gateway, that will cover all of Borouge’s logistics requirements, from the production site and feeder vessel services to main port logistics,” Capt Abdulkareem Al Masabi, chief executive of Adnoc L&S, said.
Borouge reported a 14 per cent jump in its nine-month revenue on the back of higher sales volumes of a key petrochemical product.
Revenue for the nine-month period to the end of September 2022 climbed to about $5bn from the same period in 2021, the company said in an earnings filing last month.
Total sales volumes grew about 12 per cent as the company ramped up production from its fifth polypropylene unit.
